CEO of Raymond Lifestyle, Satyaki Ghosh, stated that the company expects Europe to account for about a quarter of its exports within two years. The Indian apparel manufacturer is expanding its presence in the European region to decrease reliance on the United States amid changing trade policies.
This plan is being implemented as Indian apparel exporters reassess their dependence on the US market following tariff disruptions and prepare for higher demand due to India's trade agreements with the UK and Europe.
The United States is the largest market for textile and apparel exports from India, accounting for slightly over a quarter of the country's total exports. Before tariffs were introduced by US President Donald Trump, the US share of Raymond's total exports was 65%, while the European share was 17%.
Ghosh forecasts that the US share will decline to 55%-60%, while the European share will grow to 20%-25% over the next two years. He noted that 'Europe will grow faster for us,' adding that recent meetings between Raymond and new clients in Europe are starting to bear fruit, and combined with trade agreements, could provide the business with a 'double boom.'
According to Ghosh, European inquiries have increased by more than double-digit percentages since the announcement of trade agreements, with about 30% of these inquiries transforming into orders, particularly from the UK, and even more under review.
Raymond, which owns brands such as Park Avenue and ColorPlus, and has clients including JCPenney and Charles Tyrwhitt, has already attracted new buyers in Poland, Germany, and France. Exports accounted for one-fifth of the company's revenue in the 2026 fiscal year.
Government data shows that India's total exports to European countries from the ten largest markets grew by 9% to 69,445 crore rupees ($7.29 billion) in the 2025-26 fiscal year, the first fiscal year after Trump's statements on 'reciprocal tariffs,' while exports to the United States fell by 7%.
To meet growing demand from Europe, Raymond is increasing production at its factory in Ethiopia, and its factory in Andhra Pradesh, located in southern India, plans to more than triple its production lines to ten over the next two years.
